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REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON/NEW YORK, Nov 30 (Reuters) - After making hay when a summer bond rout propelled the U.S. dollar to 10-month highs, hedge funds are now pondering what lies ahead for the greenback. Five funds shared their views on the fate of the dollar. This does not represent recommendations or trading positions, which some hedge funds cannot reveal for regulatory reasons. He expects the U.S. economy to slow sharply which, alongside falling inflation, will likely hurt the dollar against some emerging market currencies. The Brazilian real, trading at 4.8908 per dollar , is up roughly 8% so far this year against the dollar.

Persons: Dado Ruvic, Jonathan Fader, Fader, Doug Greenig, Florin Court's, Greenig, Tara Hariharan, Hariharan, NWI, Carlos Calabresi, Michael Sager, Sager, Nell Mackenzie, Carolina Mandl, Dhara Ranasinghe, Kirsten Donovan Organizations: REUTERS, U.S, greenback, Swiss, Reuters, FLORIN, China Foreign Exchange Trade, Long, Garde, CIBC, Thomson Locations: U.S, American, Brazil, Colombia, Hungary, Poland, China, Asia, Brazilian, London, Carolina, New York

☆ TikTok takes first steps in turning on Norwegian data centre
▼ + stars: | 2023-11-30 | by ( Victoria Klesty | ) www.reuters.com time to read: +2 min

The company, owned by China-headquartered Bytedance, has been trying to address concerns over whether the Chinese government could access the data of European citizens who use TikTok. Several countries, the European Parliament, European Commission and others have banned TikTok from staff phones due to those concerns. TikTok in March launched a data security regime called Project Clover to build data centres and store European user data locally. The Norwegian data centre will be in the town of Hamar where TikTok will store data spread over three buildings and the first phase will start operating from next summer. The Norway data centre will run completely on renewable energy and generate heat that could be re-used.

Persons: Dado Ruvic, we're, Theo Bertram, TikTok's, TikTok, Bertram, Supantha Mukherjee, Jane Merriman Organizations: REUTERS, Green, European Commission, Reuters, British, NCC, Thomson Locations: HAMAR, Norway, Europe, China, Norwegian, Hamar, TikTok, Victoria, Stockholm

Paxton said the claim was based on only two months of clinical trial data, and vaccine recipients' "absolute risk reduction" showed that the vaccine was just 0.85% effective. Infectious disease experts have said relative risk reduction is a more meaningful way to judge a vaccine's efficacy than absolute risk reduction. Relative risk shows how well a vaccine protects recipients relative to a study's control group. "Pfizer did not tell the truth about their COVID-19 vaccines," Paxton said in a statement. The status of the probe into Moderna and Johnson & Johnson was not immediately clear.

Persons: Dado Ruvic, Ken Paxton, Paxton, BioNTech, Biden, Johnson, Pfizer, Jonathan Stempel, Caroline Humer, Chizu Nomiyama, Daniel Wallis Organizations: Pfizer, REUTERS, Texas, Republican, Moderna, Johnson, Thomson Locations: Lubbock County, New York, Texas, Moderna

☆ Celsius Network faces roadblocks in pivot to bitcoin mining
▼ + stars: | 2023-11-30 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsNEW YORK, Nov 30 (Reuters) - Crypto lender Celsius Network may have to seek a new creditor vote on its proposed transformation into a bitcoin mining business, a U.S. bankruptcy judge said during a court hearing on Thursday. Celsius said last week that it had reduced its post-bankruptcy business plans to focus only on bitcoin mining, citing the skepticism of the U.S. Securities and Exchange Commission (SEC) about its other planned business lines. The SEC did not definitively object to Celsius' bankruptcy plan before it was approved, but Celsius said the agency was unwilling to approve crypto lending and staking activity that the agency has opposed in the past. Celsius attorney Chris Koenig argued at Thursday's hearing that Celsius's court-approved bankruptcy plan gave the company flexibility to pivot to a mining-only business. Celsius creditors can expect a 67% recovery under the new plan, an increase from 61.2% under the Fahrenheit deal, according to court documents filed on Thursday.

Persons: Dado Ruvic, Martin Glenn of, Glenn, Chris Koenig, Koenig, Arrington, BRIC, Dietrich Knauth, Alexia Garamfalvi, Grant McCool Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Bankruptcy, US Bitcoin Corp, Arrington Capital, Recovery Investment, US, Thomson Locations: U.S, Martin Glenn of New York

☆ US judge blocks Montana from banning TikTok use in state
▼ + stars: | 2023-11-30 | by ( David Shepardson | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies TikTok FollowNov 30 (Reuters) - A U.S. judge late on Thursday blocked Montana's first-of-its kind state ban on the use of short-video sharing app TikTok from taking effect on Jan. 1, saying it violated the free speech rights of users. U.S. District Judge Donald Molloy issued a preliminary injunction to block the ban on the Chinese-owned app, saying the state ban "oversteps state power and infringes on the constitutional rights of users." TikTok users in Montana also filed suit to block the ban. During an October hearing, Molloy questioned why no other state had followed Montana in banning TikTok and asked if the state was being "paternalistic" in arguing the ban was necessary to protect the data of TikTok users. Montana could have imposed fines of $10,000 for each violation by TikTok in the state but the law did not impose penalties on individual TikTok users.

Persons: Dado Ruvic, Montana's, Donald Molloy, China's ByteDance, TikTok, Molloy, Bill Clinton, Donald Trump, David Shepardson, Chris Reese, Sonali Paul Organizations: REUTERS, U.S, District, Montana, Democratic, Biden, Thomson Locations: U.S, Montana

☆ Social media CEOs to testify at US Senate hearing in January
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: 1 min

Meta and TikTok logos are seen in this illustration taken February 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Nov 29 (Reuters) - The chief executives of social media companies Meta (META.O), X, TikTok, Snap (SNAP.N) and Discord will testify on online child sexual exploitation at a U.S. Senate hearing rescheduled for Jan. 31, the Senate Judiciary Committee said on Wednesday. The panel's Democratic chairman and the Republican ranking member said some companies had initially balked at participating and refused to accept a subpoena. "Now that all five companies are cooperating, we look forward to hearing from their CEOs," they said in a statement. Reporting by Susan Heavey; Editing by Doina ChiacuOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Susan Heavey, Doina Organizations: REUTERS, Rights, Meta, U.S, Senate, Jan, Democratic, Republican, Thomson

☆ Google DeepMind AI reveals potential for thousands of new materials
▼ + stars: | 2023-11-29 | by ( Martin Coulter | ) www.reuters.com time to read: +2 min

Google logo and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Nov 29 (Reuters) - Google DeepMind has used artificial intelligence (AI) to predict the structure of more than 2 million new materials, a breakthrough it said could soon be used to improve real-world technologies. The discovery and synthesis of new materials can be a costly and time-consuming process. DeepMind’s AI was trained on data from the Materials Project, an international research group founded at the Lawrence Berkeley National Laboratory in 2011, made up of existing research of around 50,000 already-known materials. Having used AI to predict the stability of these new materials, DeepMind said it would now turn its focus to predicting how easily they can be synthesised in the lab.

Persons: Dado Ruvic, “ We're, ”, Ekin Dogus, Kristin Persson, DeepMind, Martin Coulter, Jan Harvey Organizations: REUTERS, Google, Materials, Lawrence Berkeley National Laboratory, Thomson

☆ Okta says hackers stole data for all customer support users in cyber breach
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 28 (Reuters) - Okta (OKTA.O) said on Tuesday that hackers stole information on all users of its customer support system in a network breach two months ago. The San Francisco-based company notified customers that it has determined hackers downloaded a report containing data including names and email addresses of all clients that use its customer support system, the company said in an emailed statement to Reuters. Okta's shares slumped in October after the company said that the breach allowed some hackers to view files uploaded by certain clients. Okta provides identity services such as single sign-on and multi-factor authentication to secure logins for online applications and websites to customers, including Microsoft-backed OpenAI. Reporting by Utkarsh Shetti and Anirudh Saligrama in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Okta, Utkarsh Shetti, Dhanya Ann Thoppil Organizations: REUTERS, Reuters, Okta's, Microsoft, Thomson Locations: San Francisco, Bengaluru

REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsDUBAI/LONDON, Nov 29 (Reuters) - OPEC+ is continuing to hold talks on 2024 oil policy, with no delay to a meeting scheduled for Thursday currently expected, two sources from the producer group said on Wednesday. On Tuesday, sources had said a further delay to the meeting was possible amid talks which one of them described as difficult as countries maintained their positions. "The negotiations are ongoing, but no delay is expected," one of the sources said. OPEC+ sources said this was because of a disagreement over output quotas for African producers, though sources since said the group had moved closer to a compromise on this point. OPEC+ talks over production quotas have often been difficult in the past, most recently at their June meeting, which extended existing oil output cuts into 2024 and agreed the increase for the UAE because of its efforts to expand production capacity.

Persons: Dado, Maha El, Olesya Astakhova, Alex Lawler, Ahmad Ghaddar, Mark Potter, Kim Coghill Organizations: REUTERS, Rights, United, Brent, OPEC, Thomson Locations: Rights DUBAI, LONDON, OPEC, United Arab Emirates, UAE, Saudi Arabia, Russia, Saudi

☆ Majority of Britons support rejoining the EU single market - poll
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Nov 29 (Reuters) - A majority of Britons support rejoining the European Union's single market even though that would mean the restoration of the free movement of workers from the bloc, according to a poll published on Wednesday. Curbing immigration was a key reason Britons voted to leave the European Union in 2016. Support for joining the single market, which also guarantees the free movement of goods and services, was divided along political lines. For those respondents who voted to leave the EU and who would back the opposition Labour Party in an election tomorrow, 53% support single market membership, with 31% opposed. For those who voted for Brexit and intend to vote for the governing Conservatives, only 29% would support a return to the single market, with 54% opposed.

Persons: Dado Ruvic, Brexit, Keir Starmer, YouGov, Farouq Suleiman, Kate Holton, Nick Macfie Organizations: REUTERS, European Union, EU, Labour Party, Brexit, Conservatives, Labour, Thomson Locations: United Kingdom, Britain

☆ Prosus reports $2 bln in core earnings, sees e-commerce profitability earlier
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsAMSTERDAM, Nov 29 (Reuters) - Prosus NV (PRX.AS), a large technology investor, said on Wednesday its core headline earnings increased 118% in the first half of 2024, citing improved profitability in its stable of e-commerce investments. Core headline earnings for the half year ended on Sept. 30 were $2.0 billion, from $1.1 billion in the same period a year earlier, in line with a Nov. 20 trading statement. Core headlines earnings is a nonstandard measure the company says best reflects its group operating performance. It includes the massive stake Prosus owns in China's Tencent (0700.HK), which the company said has been sold down from 26.2% to 25% to fund a rolling share buyback program. Prosus says share buybacks benefit shareholders because the Tencent stake, now worth $98 billion, is worth about 30% more than Prosus itself.

Persons: Dado Ruvic, Prosus, Tencent, Toby Sterling, Jacqueline Wong Organizations: REUTERS, Rights, Prosus, HK, Thomson

☆ TikTok obtaining Indonesia e-commerce permit - state media
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsJAKARTA, Nov 29 (Reuters) - Short video app TikTok is in the process of obtaining an e-commerce permit from Indonesia's government, state news agency Antara reported, citing the deputy trade minister. In September, Indonesia banned e-commerce transactions on social media, a major blow for TikTok, which had pledged to invest billions of dollars in Southeast Asia, including Indonesia, the region's biggest economy. Now they are taking care of it," deputy trade minister Jerry Sambuaga was quoted saying by Antara on Tuesday. It has been looking to translate the large user base into a major e-commerce revenue source. Reuters reported earlier this month that TikTok was in talks on possible partnerships with several Indonesian e-commerce companies, including GoTo's e-commerce unit (GOTO.JK) Tokopedia, Bukalapak.com (BUKA.JK) and Blibli (BELI.JK).

Persons: Dado Ruvic, Antara, Jerry Sambuaga, China's ByteDance, minister's, TikTok, Stefanno Sulaiman, Martin Petty Organizations: REUTERS, Rights, Reuters, GoTo's, Thomson Locations: Rights JAKARTA, Indonesia, Southeast Asia

☆ Broadcom to review strategic options for two VMware units - Insider
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed Broadcom logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 29 (Reuters) - U.S. chipmaker Broadcom (AVGO.O) will review strategic options for two business units of VMware, Insider reported on Wednesday, citing a leaked email from CEO Hock Tan to employees. Broadcom closed its $69 billion acquisition of the cloud-computing firm on Nov. 22 after receiving regulatory approval from China. Its top boss Raghu Raghuram will serve as CEO Tan's technical advisor. Reporting by Arsheeya Bajwa in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Hock Tan, Raghu Raghuram, Arsheeya, Arun Koyyur Organizations: Broadcom, REUTERS, chipmaker Broadcom, VMware, Reuters, Cloud Foundation, Security, Thomson Locations: China, Bengaluru

☆ Philippines' SEC to block access to world's largest crypto exchange Binance
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsMANILA, Nov 29 (Reuters) - The Philippines' Securities and Exchange Commission has begun the process of blocking access to the world's largest crypto exchange Binance, whose chief last week stepped down and pleaded guilty to breaking U.S. anti-money laundering laws. The SEC said the operator of Binance was not a registered corporation in the Philippines, and was operating without the necessary licence and authority to sell or offer any form of securities. The removal of access in the Philippines, the SEC said in a statement, will take effect within three months of the issuance of its advisory on Nov. 28 to give Filipino users time to pull out investments from the crypto exchange. Former Binance chief Changpeng Zhao stepped down as CEO last week after pleading guilty to wilfully causing the exchange to fail to maintain an effective anti-money laundering program.

Persons: Dado Ruvic, Binance, Alphabet's, Changpeng Zhao, Karen Lema, Mikhail Flores, Jan Harvey Organizations: REUTERS, Rights, Securities and Exchange Commission, SEC, Alphabet's Google, Facebook, Binance, Reuters, Thomson Locations: Rights MANILA, Philippines

Figurines are seen in front of displayed Adobe logo in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBRUSSELS, Nov 29 (Reuters) - Adobe (ADBE.O) will aim to counter EU antitrust charges that its proposed $20 billion acquisition of cloud-based designer platform Figma hurts competition at a closed hearing on Dec. 8, two people familiar with the matter said on Wednesday. The European Commission two weeks ago warned that the deal may reduce competition in the global market for the supply of interactive product design software where market leader Figma competes with Adobe. It said the acquisition would eliminate Figma as a competitor in the supply of vector editing tools and supply of raster editing tools and reinforce Photoshop maker Adobe's dominance. The EU antitrust enforcer, which is due to decide on the deal by Feb. 5, declined to comment.

Persons: Dado Ruvic, Figma, Dana Rao, Foo Yun, Mark Potter Organizations: REUTERS, Rights, European Commission, Adobe, Rivals, Reuters, Thomson Locations: Rights BRUSSELS, EU, Britain

☆ Prosus cuts India's Byju's valuation to under $3 billion
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsMUMBAI, Nov 29 (Reuters) - Tech investor Prosus NV (PRX.AS) said on Wednesday it was valuing Indian education firm Byju's at under $3 billion, 86% less than its peak valuation of $22 billion last year, after the company struggled with governance and cash-flow problems. The disclosure, made by interim CEO Ervin Tu during Prosus earnings call, is the latest cut to Byju's valuation after several executives and board members quit and it delayed filing its 2021/22 financial results by a year. Over the past year, shareholders including Prosus and Blackrock have successively cut Byju's valuation to $11 billion in March, $8 billion in May and $5 billion in June. It has delayed publishing its financial results, prompting auditor Deloitte and three board members quit in June. Byju's filed the delayed but incomplete financial results earlier this month, and is looking to sell off entire business lines to raise cash.

Persons: Dado Ruvic, Ervin Tu, Prosus, Byju's, Sriram, Aditya Kalra, Miral Organizations: REUTERS, Rights, Tech, Prosus NV, Prosus, Blackrock, Atlantic, Deloitte, Thomson Locations: Rights MUMBAI, Silver

NASA and Indian Space Research Organization logos are seen in this illustration taken May 1, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBENGALURU, Nov 28 (Reuters) - NASA will train an Indian astronaut for a voyage to the International Space Station as early as next year, NASA Administrator Bill Nelson said on Wednesday, amid deepening space ties between India and the United States. "There is an opportunity to share science," Nelson said, speaking at an event in Bengaluru, where he is due to inspect the NISAR satellite on Thursday. NASA-ISRO SAR (NISAR) is a low-Earth orbit observatory system jointly developed by NASA and ISRO (Indian Space Research Organisation). "This is the golden age of space exploration," Nelson said at Wednesday's event.

Persons: Dado Ruvic, Bill Nelson, Nelson, NASA's, Russia's Luna, Nivedita, Kanjyik Ghosh, Alexandra Hudson Organizations: NASA, Indian Space Research, REUTERS, Rights, International Space Station, ISRO, Space Research, NASA's Artemis, Alexandra Hudson Our, Thomson Locations: India, United States, Bengaluru, NISAR, Russia, Ukraine, China, Mumbai

The dollar index , which measures its value against six major currencies, fell as far as 102.89, the lowest since Aug. 31. The index is on track for a loss of more than 3% in November, its worst performance since November 2022. The Conference Board said its consumer confidence index increased to 102.0 this month from a downwardly revised 99.1 in October. In other currencies, the euro rose to a 3-1/2-month peak of $1.0985 . The dollar fell 0.2% to 148.33 yen , with the Japanese currency continuing its recovery from the brink of 152 per dollar earlier in the month.

Persons: Dado Ruvic, Sterling, Karl Schamotta, underscoring, Gertrude Chavez, Dreyfuss, Alun John, Brigid Riley, Ed Osmond, Mark Potter, Kevin Liffey Organizations: REUTERS, U.S, Federal Reserve, Board, Federal Housing Finance Agency, Traders, Australian, New Zealand, Reserve Bank of New, Thomson Locations: Swiss, U.S, Toronto, OPEC, Reserve Bank of New Zealand, New York, London, Tokyo

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTOKYO/LONDON, Nov 28 (Reuters) - The U.S. dollar hit a three-month low against a basket of peers on Tuesday before steadying, as traders continued to unwind long dollar positions before this week's U.S. and euro zone inflation data. The dollar index , a measure of the greenback against six major currencies, was last at 103.17, a whisker above the 103.07 it touched in Asia trade, the lowest since Aug. 31. The index is on track for a loss of more than 3% in November, its worst performance in a year. The Japanese yen was a touch firmer at 148.45 per dollar , continuing its recovery from the brink of 152 per dollar earlier in the month as the dollar weakened. The Swiss franc was at 0.8810 per dollar, steady on the day, also around its firmest since the start of September, and the Australian dollar briefly touched a near four-month high of $0.6632.

Persons: Dado Ruvic, Simon Harvey, Brigid Riley, Alun John, Ed Osmond, Mark Potter Organizations: REUTERS, Rights, U.S, greenback . U.S, Fed, Reuters, Swiss, Australian, Reserve Bank of New, Thomson Locations: LONDON, steadying, U.S, Asia, OPEC, Reserve Bank of New Zealand

Meta announced the service for Facebook and Instagram last month. The ad-free service cost 9.99 euros ($10.90) monthly for Web users and 12.99 euros for iOS and Android users. Contrary to this law, Meta charges a 'privacy fee' of up to 250 euros per year if anyone dares to exercise their fundamental right to data protection," NOYB data protection lawyer Felix Mikolasch said in a statement. NOYB filed the complaint with the Austrian Data Protection Authority. The complaint will likely be forwarded to the Irish data protection watchdog which oversees Meta because it has its European headquarters in Ireland.

Persons: Dado Ruvic, Meta, Max Schrems, Felix Mikolasch, NOYB, Foo Yun Chee, Matthew Lewis Organizations: REUTERS, Rights, Meta, Facebook, EU, Austrian Data Protection, Netflix, YouTube, Google, Thomson Locations: Rights BRUSSELS, Europe, Austrian, Europe's, Vienna, Ireland, Brussels

Funds' $10 billion net long dollar position in the week ending Nov. 7 was the biggest bullish bet on the greenback since October last year and a huge turnaround from the net short position worth more than $20 billion in mid-July. The last decade has shown that CFTC funds' net dollar positions tend to be long-term, directional trades held for at least a year, the longest of which was the net long from May 2013 through June 2017. But this time may be different - funds have only been net long dollars for nine weeks. The long dollar liquidation in the week to Nov. 14 was mostly against the euro and Japanese yen. Funds expanded their net long euro position by $2.9 billion, or nearly 21,000 contracts, the sixth increase in a row and the biggest since July.

Persons: Dado Ruvic, that's, Morgan, Jamie McGeever, Christina Fincher Organizations: REUTERS, Rights, Futures Trading Commission, Traders, Reuters, Funds, Bank of Japan, FX, Thomson Locations: Rights ORLANDO , Florida

REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsNov 28 (Reuters) - ChatGPT owner OpenAI is not expected to offer Microsoft (MSFT.O) and other investors including Khosla Ventures and Thrive Capital seats on its new board, a person familiar with the matter told Reuters on Tuesday. In a few tumultuous days last week, OpenAI ousted its CEO and founder Sam Altman without any detailed cause, setting off alarm bells among investors and employees. Microsoft, which has invested more than $10 billion in OpenAI, is one of the biggest backers of OpenAI that operates ChatGPT, its viral generative AI chatbot. In response to a question on the OpenAI board, a Microsoft spokesperson said, "We will wait until the board officially says something." OpenAI and Thrive did not immediately respond to requests for comment, while Khosla declined to comment.

Persons: Dado Ruvic, OpenAI, Sam Altman, Thomas Hayes, Bret Taylor, Larry Summers, Adam D'Angelo, D'Angelo, Altman, Satya Nadella, Khosla, Zaheer Kachwala, Mary Varghese, Kenneth Li, Arun Koyyur Organizations: REUTERS, Microsoft, Khosla Ventures, Reuters, CNBC, Thomson Locations: OpenAI, Bengaluru

☆ AI threatens wages, not jobs - so far, ECB paper finds
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsFRANKFURT, Nov 28 (Reuters) - The rapid adoption of artificial intelligence could reduce wages, but so far is creating, not destroying jobs, especially for the young and highly-skilled, research published by the European Central Bank showed on Tuesday. Firms have invested heavily in artificial intelligence, or AI, leaving economists striving to understand the impact on the labour market and driving fears among the wider public for the future of their jobs. Most of their impact on employment and wages – and therefore on growth and equality – has yet to be seen." The findings were in contrast to previous "technology waves," it said, when computerisation decreased "the relative share of employment of medium-skilled workers, resulting in "polarisation".

Persons: Dado Ruvic, –, Balazs Koranyi, Barbara Lewis Organizations: REUTERS, Rights, European Central Bank, ECB, Thomson

☆ UK regulator says Adobe's $20 bln Figma deal could harm sector
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: 1 min

Adobe logo is seen on smartphone in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 28 (Reuters) - Britain's competition regulator on Tuesday said Photoshop owner Adobe Inc's (ADBE.O) $20 billion buyout of cloud-based designer platform Figma would "likely harm innovation for software used by the vast majority of UK digital designers." In July, the Competition and Markets Authority (CMA) launched an in-depth, or phase two, investigation into the deal after Adobe said it would not offer any concessions to ease the regulator's concerns. Reporting by Eva Mathews in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Eva Mathews, Nivedita Organizations: REUTERS, Adobe, Markets Authority, CMA, Thomson Locations: Bengaluru

☆ U.S. to launch joint remote sensing satellite with India early next year
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: 1 min

NASA and Indian Space Research Organization logos are seen in this illustration taken May 1, 2023. REUTERS/Dado Ruvic/Illustration/ File photo Acquire Licensing RightsNov 28 (Reuters) - The Indian Space Research Organization (ISRO) and the NASA plan to launch a joint remote sensing satellite for Earth observation in the first quarter of next year, deputy minister for science and technology Jitendra Singh said in a statement on Tuesday. Singh met a NASA delegation led by its administrator Bill Nelson in New Delhi, the statement said. Reporting by Kanjyik Ghosh; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Jitendra Singh, Singh, Bill Nelson, Kanjyik Ghosh, Andrew Heavens Organizations: NASA, Indian Space Research, REUTERS, Indian Space Research Organization, ISRO, Thomson Locations: New Delhi

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